Category Archives: News

L.L.Bean Visa Centennial Sweepstakes

Win a grand prize of $1 Million in cash.

suitcase full of paper moneyTo celebrate the company’s 100th anniversary, L.L.Bean has launched the L.L.Bean Visa Centennial Sweepstakes with a grand prize of $1 Million.

Sweepstakes entries are automatic when card members use their L.L.Bean Visa Card, issued by Barclaycard US, for purchases.

Entries accumulate, too: the more purchases made with the L.L.Bean Visa Card, the more chances card members have to win the grand prize of $1 million dollars.

Card holders accelerate their chances of winning by using their L.L.Bean Visa Card for everyday purchases such as gas, groceries, utilities and at any retail location, by catalog or online wherever the Visa Card is accepted.

Beginning March 5, 2012, the sweepstakes also provides chances to win one of 25 prizes each month from March through December 31, 2012.

Monthly prizes include

  • (10) $500 L.L.Bean Gift Cards
  • (10) pairs of Bean Boots
  • (1) Camping Package
  • (1) Kayaking Package
  • (1) 100th Collectors Knife & Case
  • (1) Double L Fly Rod and Reel Package
  • (1) $500 L.L.Bean Outdoor Discovery Schools Adventure Gift Card

Sweepstakes entries will be automatically entered for each purchase transaction made from March 5 through Dec, 31, 2012 – no hoops to jump through or forms to fill out.

The chances for winning are increased on some purchases because card holders get

  • Five entries for every gas purchase
  • Three entries for every other outside purchase where VISA credit cards are accepted
  • One entry for every L.L.Bean purchase

There is no limit to the number of entries, no minimum purchase, all entries accumulate and entrants can win more than once.

Besides the special $1,000,000 sweepstakes giveaway, L.L.Bean Visa Card rewards include

  • Earn 3% rewards on L.L.Bean purchases
  • 1% reward points everywhere else Visa credit cards are accepted
  • For every $10 earned, a $10 coupon is included L.L.Bean Coupon in the monthly statement. These coupons can be redeemed toward L.L.Bean gear and apparel all year long.
  • Card members are eligible for exclusive L.L.Bean sales and special offers throughout the year.
  • L.L.Bean Visa Card holders are eligible to receive free regular shipping on returns.
  • Personalize L.L.Bean purchases with a free monogram — a savings of $6 per line.
  • Express checkout online after registration
  • No Annual Fee

Apply now for the L.L.Bean Visa Card and start enjoying the benefits with its very first use.

Win $10,000 Sweepstakes

You could win $10,000 by depositing your IRS refund in a Visa prepaid card.

Visa Prepaid CardThere are also 60 weekly winners of $25 each until April 16, 2012.

This is a limited-time offer good only until April 16, 2012: so the clock is ticking and get your card before time runs out to win your $10,000 prize.

People can also enter the contest, without having a Visa Prepaid Card, by manually sending entry forms through the mail.

To automatically enroll for your opportunity to win $10,000, get an eligible prepaid Visa card and make a purchase or payment with it from January 15th to April 30th, 2012.

Use your card online, over the phone or in stores where Visa is accepted.

The more you use your card, the more entries you’ll receive and the better your chances of getting that $10,000.

Details of winning the $10,000 are here.

Are Credit Card Rewards Taxable?

Pile of cashCitibank has sent out 1099 tax forms for 2011 to people who received over 24,000 points as an incentive for opening a checking or savings account.

Usually prizes, awards and the such, worth over $600, are reported to the IRS as miscellaneous income.

While the 1099’s were NOT sent out for reward points on credit cards, the recent mailings suggest cardholders might have to pay taxes on all their points sometime in the future, if and when the IRS changes its mind.

Citicard regards any promotion to open an account as a taxable “gift.”

A spokesperson said, “When a customer receives a gift for opening a bank account — whether cash, a toaster or airline miles — the value of that gift is generally treated as income and subject to reporting.”

The IRS currently views reward points on credit cards as a form of “rebate,” which is not considered income, but reduces the price the customer pays for his or her purchase.

As an example, when a customer opens a new Macy’s credit card, he or she gets up to $100 off their first bill on purchases made within 48 hours of opening the new account – the credit reduces the cost their initial statement.

However if Chase credits a new account holder 25,000 points, without even making a purchase, wouldn’t that be considered a gift since nothing was bought?

The IRS treats both promotions the same now as not being taxable.

Stay tuned folks, because the tax situation right now favors cardholders, but Congress and the IRS might want to plug this tax “loophole” in the future.

Stop Scams

When you buy at a liquidation sale do not pay by cash, check, or debit card.

Use a major credit card (e.g., American Express, Discover, MasterCard, Visa, etc.) to protect yourself against fraudulent claims.

The major credit card company can help you against some very bad people or companies who would rip you off.

If you arrange for home delivery and the merchandise never arrives, or if there is no proof of delivery (e.g., signature upon receipt), the credit card company can intervene and, when appropriate, remove the charges from your account.

As for defective merchandise (e.g., small appliances, etc.), the credit card company will fight for you when the product does not satisfy your expectations.

Be certain you have a valid manufacturer’s warranty on the item before you issue a complaint.

Remember that when your merchandise is absent or useless, the wonderful “discount” means nothing.